Coinsdrom introduces a cryptocurrency-based remittance platform that offers faster, cheaper, and more accessible financial transactions for developing economies.
Lithuania, 4th Sep 2024 – Coinsdrom announces the expansion of its cryptocurrency-based remittance services, introducing a transformative solution aimed at addressing the challenges faced by individuals in developing economies. The platform offers a new approach to cross-border transactions, focusing on reducing costs, speeding up processing times, and increasing accessibility for populations with limited access to traditional banking services.
The global remittance market plays a crucial role in the financial stability of millions, particularly in regions heavily reliant on funds sent by family members working abroad. Traditional remittance methods, such as those offered by Western Union, MoneyGram, and bank wire transfers, have long been the standard for international money transfers. However, these services often come with high fees and slow processing times, making them a costly and inefficient option for many. According to the World Bank, the average global cost of sending €200 in remittances was 6.5% in 2023, with fees in some regions, particularly Sub-Saharan Africa, exceeding 8%. For individuals sending small amounts of money, these fees represent a significant portion of their earnings, creating financial strain and limiting their ability to support family members abroad.
Coinsdrom presents a compelling alternative by leveraging the power of cryptocurrencies to offer faster, cheaper, and more accessible remittance options. The platform allows users to send funds across borders within minutes, regardless of the distance between sender and recipient. Unlike traditional methods that often require several days to complete a transaction, Coinsdrom ensures that recipients receive their funds quickly, minimizing delays and providing timely financial support for essential needs such as food, healthcare, and education.
In addition to speed, Coinsdrom addresses the issue of high fees associated with traditional remittance services. The platform’s transaction fees are generally much lower than those of conventional money transfer services, allowing users to retain more of their earnings. This cost-effectiveness is particularly impactful in regions with high remittance fees, where individuals can save a significant amount of money by using cryptocurrencies for their transactions.
Coinsdrom’s platform is designed to be accessible to all, particularly in regions with limited banking infrastructure. The platform requires only a smartphone and internet access, making it a viable option for the unbanked population—a group that has historically been excluded from traditional financial systems. In developing countries where a significant portion of the population remains unbanked, Coinsdrom provides a practical solution that enables users to send and receive money without the need for a bank account.
As cryptocurrency adoption continues to grow globally, Coinsdrom is positioned to play a vital role in the remittance industry, particularly in developing economies. The platform’s focus on reducing costs, improving accessibility, and providing a reliable service aligns with the needs of individuals in regions heavily dependent on remittances. Coinsdrom’s approach to remittances empowers users to take control of their financial transactions, offering a practical solution that supports their financial well-being.
Coinsdrom remains committed to advancing financial inclusion through the adoption of cryptocurrency-based remittances. By providing a reliable, efficient, and accessible platform, Coinsdrom supports the financial stability of individuals in developing economies, enabling them to send and receive money with greater ease and security.
Media Contact
Organization: Coinsdrom
Contact Person: Delores
Website: https://coinsdrom.com/
Email: Send Email
Country: Lithuania
Release Id: 04092416537